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SEC FILE NUMBER | ||
1-2960 |
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CUSIP NUMBER | ||
651718504 |
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(Check one): | o Form 10-K o Form 20-F o Form 11-K þ Form 10-Q o Form 10-D o Form N-SAR o Form N-CSR | |||||
For Period Ended: | March 31, 2006 | |||||
o Transition Report on Form 10-K | ||||||
o Transition Report on Form 20-F | ||||||
o Transition Report on Form 11-K | ||||||
o Transition Report on Form 10-Q | ||||||
o Transition Report on Form N-SAR | ||||||
For the Transition Period Ended: | ||||||
þ |
(a) | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense | |||||
o |
(b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and | |||||
o |
(c) | The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
Effective April 12, 2006, and pending completion of the internal investigation, Paul L. Howes, the Companys Chief Executive Officer has placed on administrative leave the chairman and Chief Executive Officer of Newpark Environmental Water Solutions, LLC, one of the Companys operating divisions, as well as the Companys chief financial officer, and an officer of Soloco Texas, LP. No determination of the culpability, if any, of these individuals or any other employees of the Company has been made at this time.
The Company, upon completion of the Audit Committees internal investigation, will evaluate the results of the investigation and review with the Audit Committee the effect of the findings on the Companys consolidated financial statements and system of internal controls. The Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2006 cannot be filed until this process is completed. The Company can not predict with certainty when the investigation will be complete or when it will be able to file the Form 10-Q for the quarterly period ended March 31, 2006 and any restatement of prior historical financial statements, if deemed necessary. However, the Company is hopeful that it will be able to make such filings within 60 days.
(1) | Name and telephone number of person to contact in regard to this notification |
Eric M. Wingerter | (504) | 838-8222 | ||
(Name) |
(Area Code) | (Telephone Number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). | |
Yes þ No o | ||
(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? | |
Yes þ No o | ||
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. | ||
In a press release issued on May 1, 2006, the Company announced that, based on information that had come to light as of the date of the press release, it appears the Company may have asset impairments, which it does not believe will exceed $10 million on a pretax basis, subject to possible recovery from third parties. No determination has been made on the impact, if any, on previously issued financial statements. |
Date
|
May 10, 2006 | By | /s/ Eric M. Wingerter | |||
Eric M. Wingerter, V.P. and Corporate
Controller, Acting Chief Financial Officer (Principal Financial Officer |
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